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30 Sep 2014
CAD and crosses technical snap-shot - TDS
FXStreet (Barcelona) - Analysts at TD Securities explained the Canadian dollar and crosses from a technical point of view in a snap shot.
Key Quotes:
“USD/CAD struggles to advance beyond 1.12 but the underlying bull trend remains strong and we see limited scope for weakness at the moment”.
“A short-squeeze in EUR/CAD should not extend too far; modest gains are there for the selling”.
“AUD/CAD bounces from the low 0.97 area and may trade a little higher still near-term; the broader trend remains lower though”.
“GBP/CAD gets bogged down around retracement resistance but should eventually push higher towards 1.83”.
“CAD/JPY still looks soft but needs to break support at 97.70 to extend lower”.
Key Quotes:
“USD/CAD struggles to advance beyond 1.12 but the underlying bull trend remains strong and we see limited scope for weakness at the moment”.
“A short-squeeze in EUR/CAD should not extend too far; modest gains are there for the selling”.
“AUD/CAD bounces from the low 0.97 area and may trade a little higher still near-term; the broader trend remains lower though”.
“GBP/CAD gets bogged down around retracement resistance but should eventually push higher towards 1.83”.
“CAD/JPY still looks soft but needs to break support at 97.70 to extend lower”.